KUALA LUMPUR: Malaysia’s benchmark stock index rebounded in the morning sessions following positive results from US-listed Nvidia, which triggered a rally on Wall Street overnight.
Ahead of Bursa Malaysia’s own corporate results, investors took the opportunity to pick up bargains following the recent sell-off.
At 12.30pm, the FBM KLCI was up 3.65 points to 1,443.76. There were 401 gainers compared to 379 decliners. Trading volume was 2.11 billion shares valued at RM856.13mil.
Telco shares were the leading gainers on the blue-chip index, with CelcomDIgi climbing nine sne to RM4.39 and Maxis adding nine sen to RM4.13.
There was also positive retracement in plantations as Sime Darby Plantation gained four sen to RM4.36 and IOI added two sen to RM3.99.
The jump in US tech-related counters also bolstered domestic chip counters, including MPI adding 28 sen to RM27.18, KESM gaining 10 sen to RM7.44 and Pentamaster rising five sen to RM5.38.
Of actives, Hong Seng was down one sen to 4.5 sen, Sapura Energy was flat at five sen and CN Asia dropped 0.5 sen to 23.5 sen.
Key regional markets also picked up on the rally in US stocks and drop in Treasury yields.
Japan’s Nikkei gained 0.4% to 2,148 and South Korea’s Kospi added 1.1% to 2,531.
China’s composite index rose 0.5% to 3,092 while Hong Kong’s Hang Seng climbed 1.9% to 18,186.
– The Star